It is important to know the details mentioned in this brief Kraken review as it is one of the topmost platforms in the world. This was established in 2011 in United States of America. It is also known to be one of the oldest crypto exchanges in the country. And popular due to its outstanding features, services and more.
These features are important for you to know before you choose this exchange. Lets see if it is according to your trading requirements and criteria or not.
As a beginner, it is important that you take your time and always learn about your options. So you can choose the most suitable one. This is essential as different exchanges offer different kinds of services and as a novice investor or trader. You need to be sure that the exchange you choose ticks all the right boxes for you.
Therefore, if you are interested in using the Kraken exchange then here are some details you need to know beforehand.
Kraken Review on the Dark Pool
One of the most distinctive features of Kraken is that it enables the users to place orders in the market that are completely anonymous. Not many crypto exchanges offer that to the users, which is why, it stands out among its competitors.
Being able to place anonymous orders can really take the whole experience to a different level and can help numerous people in using the exchange. The anonymous orders placed in the Dark Pools are also only known by the traders who place them.
Staking is yet another major aspect you should know about in this brief Kraken exchange review. The staking service is important for people to know about as it offers the opportunity to make some profits. However, it is important to remember that the profits are not always guaranteed.
Staking can only be achieved on proof-of-stake blockchains and require staked tokens to validate the transactions. This feature also enables the users to place the crypto they own in a collective pool or wallet and then get rewards from it.
Therefore, if you are interested in staking then you should know that the Kraken exchange supports this feature.
Safety and Security Offered
Another aspect mentioned in this brief Kraken review is the security offered by the platform. The security offered by the exchange is essential for you to know about as every exchange is not as secure as one might think.
The crypto space is a volatile place and unless you choose a secure exchange it can become unsafe for you to buy, sell or trade. Therefore, if you are new to the crypto space then you need to choose a secure platform such as the Kraken exchange.
This platform is one of the safest ones in the crypto space and uses the following security features to offer utmost security to the users.
- Advanced blockchain technology
- Global settings lock
- Kraken Master Key
- KYC verification requirement
- Offline crypto wallet
- Two-factor authentication system
This brief Kraken exchange review also focuses on the fact that it is a regulated exchange and is regulated by FinCEN and FINTRAC.
Margin and Futures Trading
The Kraken exchange also supports margin and futures trading, which are two of the most popular forms of trading. Margin trading is also called leverage trading, which requires the traders to borrow funds from the brokers.
The borrowed funds can help the traders in opening bigger trading positions, which can either result in huge financial profits or huge financial losses.
The profits are not guaranteed in any case, which are important for every crypto trader and investor to know about.
Crypto exchanges offer different leverages that go as high as 100x, 101x and 250x. However, Kraken does not offer a very high leverage and is up to 5x.
This brief Kraken review also mentions the deposit methods that are supported by the exchange. The types of deposit methods are important for you to know about so you can determine if the exchange offers deposit methods that are suitable for you.
Therefore, one of the things you need to know is that the Kraken exchange offers support to multiple deposit methods including:
- Wire transfers
- Credit card
- Crypto assets
The Kraken review that focuses on the details mentioned above can help to determine if it is a suitable platform for you or not. As a beginner, you need to know the features and services offered by this prominent and popular exchange.